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October 20, 2014

October 20, 2014

Posted by **Terri** on Monday, September 21, 2009 at 10:33pm.

- math -
**MathMate**, Tuesday, September 22, 2009 at 12:11amFirst use the rule of 72 to get an approximation:

N=72/14= 5.1 %

The real calculation is:

(1+x)^{14}= 2

take log on both sides,

14log(1+x) = log(2)

log(1+x) = log(2)/14

1+x =e^{log(2)/14}

x = e^{log(2)/14}-1

=0.05076

The percentage required is 5.076%

(approx. equal to 5.1% estimated earlier)

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